Daily Market Comments - September 2018
09/26/18 - Stock Market CommentsToday's positive trading, although not demonstratively strong continues to indicate the T-line acting as a support level. The NASDAQ is setting up as a Frypan bottom, implying a slow steady uptrend for the near future. The S&P 500 and the Dow are still trading above the T-line not showing any severe selling pressure.
09/25/18 - Stock Market CommentsThe lack of movement in the markets today continue to demonstrate there is no major change of investor sentiment from the slow uptrend in progress. The lack of directional force in the markets, the lack of any excessive bullish strength is also demonstrating the lack of any bearish sentiment.
09/24/18 - Stock Market Comments
Friday's indecisive trading, a Doji day, in the indexes made the likelihood of profit-taking Today that much greater. The Dow actually did a Doji after gapping up slightly in the overbought condition and at an all-time high.
09/21/18 - Stock Market Comments
Although the Dow is trading at all-time highs, the NASDAQ is trading lower. This does not diminish the strength of the market, it actually reveals that exuberance has not come into the market trend. This makes for a much more solid/sustained trend movement. These market conditions continue to produce good profits on the long side as well as some good profits on the short side.
09/20/18 - Stock Market Comments
Although the Dow is still trading higher, the strongest bullish indication today was the gap up in the NASDAQ after yesterday's Doji day right at the T-line. The analysis is very simple, as long as the indexes continue to trade above the T-line, the uptrend remains in progress.
09/19/18 - Stock Market CommentsAlthough the Dow is trading up strong again today, rampant enthusiasm still has not permeated this market. Yesterday's positive trading demonstrated the indexes were going to stay above the T-line, implying the uptrend remains in progress. However, with the Dow trading up 175 points, the transportation index and the S&P 500 trading moderately higher, the NASDAQ is trading lower.
09/18/18 - Stock Market CommentsToday's positive trading in the indexes are showing strength at the T-line and currently showing the lack of confirmation in yesterday's evening star signals. This is good for the bullish uptrend PROVIDED selling does not bring the markets back down through Today's open. If the markets close with good bullish candles Today, staying above the T-line, additional bullish confirmation will be required to confirm the uptrend is continuing, albeit very slowly
09/17/18 - Stock Market Comments
Soggy day! There is not anything is showing any major change of investor sentiment but all the indexes are trading lower Today. This is different than the majority of trading days during this slow uptrend where one or two indexes would be trading higher while the other one or two indexes would be trading lower.
09/14/18 - Stock Market Comments
Today's positive trading in the indexes continue to confirm the J-hook patterns as well as indicating the uptrend is in progress as long as the trading remains above the T-line. Until there is a dramatic candlestick sell signal in the indexes, assume the uptrend will remain in progress, likely heading toward the top of the trend channel.
09/12/18 - Stock Market CommentsYesterday's potential bullish reversal signals required confirmation today which is not occurring, especially in the NASDAQ. The T-line remains a relevant resistance level. Although there is no evidence of consensus selling, there is also no evidence of consensus buying.
09/11/18 - Stock Market Comments
Today's trading in the indexes continue to indicate a lack of direction. With the indexes opening lower but currently trading positive reveals a basing action in the Dow, NASDAQ and S&P 500. The transportation index is still demonstrating any lack of selling pressure.
09/10/18 - Stock Market CommentsThe indexes still do not show any decisive trend movement. Although the NASDAQ is trading higher so far today, it is trading below where it opened. The Dow is showing the same thing. The S&P 500, although trading higher, is trading right about where it opened, forming an indecisive Doji day
09/07/18 - Stock Market CommentsToday's trading appears to be a rebound/consolidation day. Numerous stocks that have been trading lower over the past few days are showing bounces. Stocks that were trading higher over the past few days are showing weakness.
09/06/18 - Stock Market Comments
The markets remain indecisive, the Dow is trading positive, the transportation index is trading positive, the S&P 500 and NASDAQ are trading lower. This is producing more evidence that each stock/sector has to be evaluated on its own merits, the overall market is not providing pressure one way or the other.
09/05/18 - Stock Market Comments
Although the Dow is trading relatively flat, the NASDAQ is getting it very hard. The NASDAQ and the S&P 500 are currently demonstrating that the T-line is not acting as a viable support. Yesterday the NASDAQ did a Doji day but opened lower Today and is currently trading below the T-line.
09/04/18 - Stock Market Comments
Although the market indexes are trading lower, they have climbed back up toward the top end of their trading range, currently creating Doji's. The Dow is trading right on the T-line. The NASDAQ had pulled all the way back to the T-line and is now trading near the high and of its trading range.